Sagard Real Estate has acquired a 133,750-square-foot warehouse in Tukwila, Washington, adding an established distribution property with a wholesale occupier that has operated at the location for more than 25 years.
The building at 1100 Andover Park West sits on approximately 5.6 acres at the northern end of the Kent Valley industrial corridor south of Seattle.
It is fully leased to a national wholesale distributor, according to Sagard. The investment manager did not identify the tenant.
The transaction is an acquisition of existing warehouse real estate rather than new industrial development. No additional warehouse capacity is being created as a result of the change in ownership, and Sagard has not announced plans to expand or redevelop the property.
Instead, the acquisition adds another occupied logistics asset to Sagard’s existing position in the Seattle-area industrial market.
The building has 24-foot clear height and 16 dock-high loading doors, specifications independently corroborated by commercial property listings. Sagard also reports four points of ingress and egress.
Those characteristics give the property an established warehouse and distribution configuration despite its age. Property information identifies the building as dating to 1974, with a renovation in 1982.
Its location provides direct access to three important regional road corridors: Interstate 5, Interstate 405 and State Route 167.
Seattle-Tacoma International Airport and the Port of Seattle are also within the broader freight network accessible from Tukwila.
For Sagard, that connectivity is part of the investment case.
Tom Stover, managing director of acquisitions at Sagard Real Estate, described the property as representative of the functional infill industrial assets the company targets.
Sagard also argues that limited opportunities for new development in Tukwila support the long-term value of existing industrial properties.
That assessment reflects the buyer’s investment thesis rather than an independently established conclusion about future property values.
More concrete is the building’s occupancy history.
Sagard says the unnamed national wholesale distributor leasing the property has operated there for more than 25 years.
That makes the deal an acquisition of an established distribution location with an incumbent occupier, rather than a vacant warehouse requiring lease-up.
The Tukwila acquisition also follows another Sagard industrial purchase in the Seattle region earlier this year.
In January, Sagard acquired a 162,400-square-foot distribution facility in Auburn, Washington, on approximately 8.8 acres.
Independent reporting described the Auburn building as leased to a national third-party logistics provider. Like the Tukwila property, it has 24-foot clear height and access to the SR 167 corridor.
The two transactions provide evidence of continuing Sagard investment in occupied industrial assets around the Puget Sound market, although they do not constitute a Sagard-operated logistics network.
Sagard is the real-estate investor rather than the warehouse operator.
That distinction is particularly relevant to the Tukwila transaction because no operational change has been announced for 1100 Andover Park West.
There is no disclosed new distribution program, warehouse expansion or automation installation associated with the acquisition.
No AS/RS, robotics, conveyors, AMRs, AGVs or warehouse-management technology has been identified at the property.
The warehouse’s operational significance instead rests on its existing physical configuration and longstanding distribution occupancy.
Sagard reports $6.1 billion in real-estate assets under management and has identified industrial property as one of its investment priorities.
The Tukwila deal extends that strategy with a relatively mature infill warehouse rather than a newly constructed logistics facility.
Several financial and lease details remain undisclosed.
Sagard has not identified the seller or acquisition price. It also has not provided the capitalization rate, financing structure, rent, lease expiration, remaining term or renewal options for the wholesale tenant.
Those omissions limit any assessment of the transaction’s valuation or income profile.
Operational metrics such as pallet capacity, inventory levels, truck volumes and throughput also have not been disclosed.
The physical asset itself is more clearly defined: one 133,750-square-foot warehouse on approximately 5.6 acres, with 24-foot clear height, 16 dock-high doors and an occupier with more than two decades at the location.
For Sagard, the acquisition continues a run of investment in occupied Seattle-area industrial property. For the warehouse market, it is a transfer of established logistics real estate rather than an addition to regional supply.